Drip network price prediction: What is drip network (DRIP)?
The Drip Networks promises investors a daily dividend, but what is drip network (DRIP)?
Let’s take a look and see what we can find out and also examine some of the drip network price predictions that were being made as of 4 October 2022, too.
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Drip network explained
Something that many founders, pioneers and entrepreneurs in the world of cryptocurrency want to do is to mirror the behaviour of conventional stocks and shares. You may hear talk about third or fourth industrial revolutions from certain kinds of blockchain evangelists, but if the idea of decentralised finance (DeFi) is to mean anything, the key is that it can do exactly what traditional, centralised, financial services can do without having to rely on traditional, centralised, banks and financial service providers.
Many regular stocks and shares pay out dividends. This, basically, is the idea that just by holding onto one’s stock, you can make money, so long as the company you own shares in turns a profit. As the Corporate Finance Institute (CFI) says: “A dividend is a share of profits and retained earnings that a company pays out to its shareholders. When a company generates a profit and accumulates retained earnings, those earnings can be either reinvested in the business or paid out to shareholders as a dividend.”
Now, many cryptocurrencies aim to mimic the idea of a passive income. For instance, a lot of cryptos feature staking, whereby people lock in funds in the network’s liquidity pool in order to earn rewards.
The Drip Network aims to work like this, only a little differently. The platform is designed to, in effect, pay the token’s holders a de facto daily dividend, allowing them, at least in theory, to make money without having to actually do anything.
The system works by people buying their crypto and depositing it into the network. The platform takes a flat 10% tax if it has been bought from an exchange, although purchasing it from the network’s site foregoes this, and the rest is supposed to go to work, giving people a 1% dividend each day for up to 365 days. It is worth noting, though, that you do not get the money you initially invested back.
In terms of what people can deposit, the answer lies in the Drip Network’s conveniently named drip network token, also known by its ticker handle of DRIP. It is worth noting that DRIP is based on the BNB Chain (BNB), formerly known as Binance Smart Chain. This means that it is a token, rather than a coin. While you will see references to such things as a drip network coin price prediction, these are, technically speaking, wrong.
DRIP was launched in 2021 and was the brainchild of two crypto entrepreneurs who called themselves Forex_Shark and BB. While it is not uncommon for crypto founders to be pseudonymous, it might put off some potential investors who want to be able to have someone to hold to account.
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Drip network price history
DRIP price history from launch to present – Credit: Capital.comLet’s now cast our eyes over the DRIP price history. While past performance should never be taken as an indicator of future results, knowing how the token has behaved in the past can help give us some very useful context if we want to either interpret a drip network price prediction or else make one of our own.
When DRIP first hit the open market in 2021, it opened at $29.97 on 29 July and within a day was trading at about $31.50. The price then declined, falling below $6.50 in late September, before going on a sustained rally that saw it close the year at $86.39.
The overall growth continued at the start of 2022 and the token reached an all-time high of $169.61 on 26 January 2022.
After that, though, the token started to follow the market, losing value following a series of crashes and, on 26 July 2022 it was trading at an all-time low of $4.68, having lost more than 97% of its overall value over the course of six months.
Since then, there has been something of an overall recovery, with it briefly breaking past $10 in the middle of August, before settling down to trade at around $6.25 on 4 October 2022.
At that time, there were a self-reported 100,000 DRIP in circulation out of a total supply of one million. If this figure were independently verified as being accurate, this would give the token a market cap of around $625,000, which would mean it was something like the 1,573rd largest cryptocurrency by that metric.
Drip network price prediction round-up
With that all said and done, let’s take a look at some of the drip network price predictions that were being made on 4 October 2022. It is important to remember at this stage that price forecasts, especially for something as potentially volatile as cryptocurrency, often turn out to be wrong. Also, many long-term crypto price predictions are often made using an algorithm, which means that they can change at any time.
First, CryptoPredictions.com was rather bullish in terms of its drip network price prediction for 2022. It suggested the token could have more than doubled by the end of the year to just under $12.54. By October 2023, the site said DRIP could have approached $18.62, before it could have gone on to between $22.70 and $22.71 a year after that and $25.46 by October 2025. In October 2026, the forecast suggested the token could have fallen short of $27.54, before it could have closed the year at $27.85.
Next, CoinArbitrageBot was supremely optimistic when it came to its DRIP price prediction. The site suggested that, by the end of 2022, the token could have been worth just shy of $30.39, and could have climbed to somewhere in the middle of $54.08 and $54.09 in 2023. The site argued it could have been worth a shade under $87.81 in 2024, while its drip network price prediction for 2025 suggested it could have achieved $141.59.
How much weight you give to this particular forecast will depend on whether you believe, having made sure to do your own research, that drip network can grow by nearly 400% by the end of the year and by more than 2,000% over the course of a little over three years.
Meanwhile, DigitalCoinPrice had a drip network crypto price prediction that said that the token could have traded at $6.90 this year, $14.17 next year and $19.81 the year after that. The site suggested that the price could have continued on its upward journey in 2025, when it could have traded at $25.78, before it could have dropped in 2026 to $21.92. The site then argued that DRIP could have fought back and reached $30.62 in 2027 and $44.13 in 2028, before it could have closed the decade at $61.79. The site then made a drip network price prediction for 2030 that it could have achieved of $86.84, and could have gone on to $118.74 in 2031.
Finally, Gov Capital was far more downbeat when it came to a DRIP price prediction, at least in the medium-term. The site said that drip network could have blossomed to a high of $65.94 at the end of the year, but it could have crashed to a level not worth recording by 25 April 2023. There is, however, some cause for optimism, as the site predicts that the token could have recovered to a fraction of a cent below $33.42 by 4 October 2023.
When considering a DRIP token price prediction, it’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.
If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. And never trade with money that you cannot afford to lose.
FAQs
Is drip network a good investment?
It is hard to say. A lot will depend on how the market performs as a whole, and whether DRIP can make itself more attractive to potential investors.
Remember, you should always carry out your own thorough research before making an investment decision, especially the volatile cryptocurrency markets. Even high market cap cryptocurrencies have proved vulnerable to bear markets. While there is no guarantee of future returns based on past performance, investors should be prepared to make losses and never purchase more than they can afford to lose.
Will drip network go up or down?
It is difficult to tell. While sites like CoinArbitrageBot are rather bullish in their assessments of the token’s future, the likes of Gov Capital are far more cautious, not to say pessimistic, when it comes to their predictions of what might happen to DRIP. Remember that price predictions very often turn out to be wrong, and that prices can go down as well as up.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether DRIP is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. And never invest money that you cannot afford to lose.
Should I invest in drip network?
DRIP aims to give people the chance to earn a return on investment, but potential investors should research to see whether or not they are at risk of falling victim to a scam, as well as checking to see whether they believe the token can continue to perform.
Whether you should invest in drip network is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research and never invest more money than you can afford to lose because prices can go down as well as up.
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